Nepal Telecom reports rise in revenues and profit

Nepal’s incumbent fixed line operator Nepal Telecom (NT) has seen its first rise in profit in two years in the fiscal year to 15 July 2014. Net profit reached NPR11.68 billion (USD118.7 million) in 2013/14, up from NPR11.29 billion the previous year. The decline in profits in the two prior years had been blamed on licence renewal costs and wireless spectrum fees. Service revenue for the year stood at NPR35.58 billion, up from NPR34.14 billion a year earlier and NPR32.80 billion in 2011/12.